Huntsville, AL Housing Market Update | October 2022

In the October Housing Market Update, we’ll look at how rising interest rates have affected the Huntsville, AL market as we’re coming out of a record housing market and what to expect for the rest of 2022 as we head into 2023. If you’re looking to buy or sell a home in Huntsville, AL area, this information can help you make the best decision based on your situation.

New Listings 

New listings are relatively flat year over year with a 0.9% increase, there were 1,474 new listings in September 2022 versus 1,461 for September 2021. That makes sense because, in September 2021, we had many sellers that were sitting on the sidelines because they just couldn't find the right home they…

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Alternatives to the 30-Year Fixed Rate Mortgage

 

With 30-year mortgage rates hitting the highest level they've been in the last 20 years, a lot of people are looking for alternatives to that 30-year fixed-rate mortgage. There are three alternatives that we can look at; one option that is typically a bad option, one that is oftentimes a good option, and then there's a great option for us to consider. The three alternatives are:

Alternative Mortgage Options

Adjustable Rate Mortgage

The first option is an adjustable-rate mortgage which is also called an ARM. ARMs are fixed for a period of time and then they adjust after that. ARMs typically start with a lower interest rate than fixed-rate mortgages, so ARMs are a great option if you’re…

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Does Raising Interest Rates Help Inflation? | Huntsville, Alabama Housing Market News

Interest rates are at the highest levels that they've been in 20 years and inflation is at the highest levels that we've seen since the 1980s. The Fed continues to raise interest rates to combat inflation but does raising interest rates actually impact and lower inflation?

Economics comes down to supply and demand. Most purchasers of big-ticket items such as boats, cars, and homes are also borrowers. Raising interest rates affects the demand for those products because the purchasers are likely to borrow less as a result.. The ‘wealth effect’ is another factor that affects demand. As interest rates rise, that typically has a negative impact on the stock market…

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2023 Housing Market Predictions 

As we begin Q4 of 2022, rising interest rates, low housing supply, and fear of a real estate crash have many buyers and sellers trying to predict what they should do as we end 2022 and move into 2023. Below, we’ll break down what you can expect for 2023 when buying or selling a home in Huntsville, AL.

2022 & 2023 Housing Price Appreciation

The housing market is beginning to shift which has all the major forecasters now updating their predictions for the remainder of 2022 and heading into 2023. Seven of the major forecasters are predicting an average of 11.3% appreciation for 2022, predictions range from 9.3% all the way up to 16% for the 2022 market, which is still an above-average appreciation for real…

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Huntsville, AL Housing Market Update | September 2022

In the September Housing Market update for Huntsville, AL, we’ll take a look at housing affordability, housing inventory, and what to expect for the rest of 2022. If you’re looking to buy or sell a home in Huntsville, AL, this information can help you make the best decision based on your situation.

Huntsville, AL Housing Affordability

Affordability continues to be down. Single-family homes are becoming less affordable with the housing affordability index down from 129 this time last year to 90 for single-family homes. Anytime affordability gets below 100, it means that the average income in our market cannot afford the average price range home in the Huntsville market. The good news,…

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Where Are Interest Rates Heading?


The Federal Reserve raised interest rates for the fifth time in 2022 at their September 21st meeting. The Fed continues to be aggressive in raising rates with a 0.75% rate hike this time around to put the federal funds target rate in the 3% to 3.25% range.

If you’re looking to buy a home in Huntsville, AL, you might be wondering how that’s going to impact real estate interest rates over the coming months. As a quick reminder, the Fed funds rate does not directly affect the mortgage rate, but it does have a major impact. 

When Will The Fed Raise Interest Rates Again? 

The Fed is predicting that they're going to continue to increase interest rates at their two remaining meetings in 2022 with an end…

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Are Huntsville, Alabama Homes Overvalued?

There has been a lot of hype and clickbait articles predicting what will happen in the housing market not only nationally, but locally as well. The latest clickbait article that came across my desk was titled “Housing Correction Coming to Alabama: See the State's Most Overvalued Real Estate Market”. 

They made two points in the article: 

1) Home prices have outpaced income growth and 

2)  Huntsville is at the top of the state's list at 37.12% overvalued compared to the area's income levels.

 

Are Huntsville homes overvalued and is a housing correction coming to the market? Let’s look at the facts:

Rising Cost of Living

Overvalued is probably not the right term, higher cost of living is…

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Real Estate Agent vs. For Sale By Owner (FSBO) 

When selling a house, there are two main routes you can take; using a real estate listing agent or selling the house yourself. The second route is called “for sale by owner” or “FSBO”. According to the National Association of Realtors, NAR, FSBOs only accounted for 7% of home sales in 2020. The real estate market has been a hot seller’s market recently which has more homeowners thinking about selling their house themselves in order to avoid paying a commission to a listing agent.

Here are the top five reasons you should consider hiring a real estate listing agent instead of doing a FSBO when selling a home in Huntsville, Alabama: 

#1 - Marketing

What do you think will help you sell…

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Real Estate Team vs. Solo Agent | What’s the Difference?

When you’re looking to buy or sell a home in the Huntsville, AL area, hiring a real estate agent is essential to your success. The benefits of using a real estate team versus using a solo agent can be the difference between the results you expect and the results you actually end up with. 

There’s a simple analogy to explain the difference between using an entire real estate team versus using a single agent. Let’s say you're going out to eat for dinner, could you imagine going into a restaurant and the person that greets you is also the exact same person that shows up at your table to take your order? Not only are they taking your order but they're the person that's cooking your food,…

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Matt Curtis Real Estate Website Wins a 2022 Summit Creative Award

Matt Curtis Real Estate and Real Estate Webmasters have received an international award for website design! The Summit Creative Awards received over 3,400 submissions from more than 19 countries, out of all of those entries, www.mattcurtisrealestate.com received bronze for the 2022 Top Summit Creative Award.

With the Matt Curtis Real Estate team - real estate is done differently. A dedicated team boasting over $1 billion in real estate sales partnered up with tech giant REW to create a real estate experience that makes buying your home something to look forward to. Just taking a look at the Matt Curtis site, and you know right away that the user experience is the priority.

The…

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